The Business Times, 10 July 2010

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Microfilm: NL30727
Total Pages: 48
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    12 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg JULY 10-11, 2010 S$1.00 MICA (P) 124/08/2009
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  • Article
    Lock icon Lots of dry powder, but too few targets
    902 1  -  Private equity funds sitting on billions of dollars in cash find that there are too few good companies on the market; others find it hard to sell outfits bought in boom times By Chew Xiang xchew@sph.com.sg Singapore ASIA-FOCUSED private equity funds are
    902 words
  • Article
    Lock icon SID calls for tighter definition of ID
    688 1  -  Institute feels Parkway may have fallen short of Code By Michelle Quah michquah@sph.com.sg Singapore THE Singapore Institute of Directors (SID) the national association of company directors and a forum for corporate governance issues has spoken out on the controversy surrounding Parkway Holdings’ independent
    688 words
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      Lock icon Page 1 Advertisements Column 1
      131 1 the good start New Katong Mall lands key tenants COLD Storage’s Market Place will take up about 13,000 square feet of space; Golden Village, 30,000 sq ft, spread over eight halls; and George Quek’s BreadTalk group, 22,500 sq ft, for a food court and several restaurants. 2 good times Retailers
      131 words
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      23 1 WORLD CUP The perfect match L10-11 WEALTH Markets moving sideways 30-32 KL HAWKER GUIDE Curry favour L8-9 UP THE GARDEN PATH L2 3
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  • TOP STORIES
    • Article
      Lock icon New Katong Mall attracts 3 key tenants
      471 2  -  Cold Storage’s Market Place, Golden Village and BreadTalk will lease about 32% of NLA By Nicholas Yeo yeonick@sph.com.sg Singapore A NEW Peranakan-themed mall will soon take the place of the former Katong Mall and mark the debut mall for Pua Seck Guan’s Perennial
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    • Article
      Lock icon MARKETS
      137 2 STI 2,917.17 (+20.02) STI FUTURES 2,917 (+20) SIMSCI 344.98 (+3.12) SIMSCI FUTURES 345.60 (+3.40) STOCKS Friday Change KL COMP 1,324.31 +8.28 NIKKEI 225 9,585.32 +49.58 HANG SENG 20,378.66 +328.10 SET 820.60 +3.03 JAKARTA 2,943.90 +27.99 MANILA 3,394.56 -3.60 KOSPI 1,723.01 +24.37 SHENZHEN B 591.93 +12.84 MUMBAI IND 17,833.54 +181.81
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    • Article, Illustration
      Lock icon Retailers pleased with GSS sales
      505 4  -  Bigger crowds and higher sales, thanks to economic rebound By Nisha Ramchandani, Melissa Tan nishar@sph.com.sg melissat@sph.com.sg Singapore RETAILERS are reporting both bigger crowds and higher sales at the Great Singapore Sale (GSS) this year, thanks to the rebound in the economy and consumer sentiment. Freemen
      ARTHUR LEE  -  505 words
    • Article, Illustration
      Lock icon Beijing renews Google’s China licence
      349 4 AP Beijing GOOGLE said yesterday that Beijing has renewed the licence it needs to continue operating a website in China, securing the search giant’s foothold in the country’s fast-growing Internet market despite tensions over censorship. The renewal of the licence to provide Internet content had
      AP  -  349 words
    • Article
      Lock icon Shopping for investments? You can invest in these shops
      1281 5  -  Most sought-after places for strata shop deals in H1 this year include Peninsula Plaza and Sim Lim Square, says Knight Frank study By Kalpana Rashiwala kalpana@sph.com.sg Singapore THE number and value of strata shops and shophouses transacted in the first half
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    • Article
      Lock icon Two Korean dons challenge Seoul’s version
      703 6  -  US-based profs want UN to probe ‘Cheonan incident’ objectively, alleging inconsistencies in claim of North Korean torpedo attack By Anthony Rowley btworld@sph.com.sg Tokyo WHAT really happened in the “Cheonan incident” the sinking of a South Korean warship with the loss of 46 crew members’
      703 words
    • Article, Illustration
      Lock icon Assets under management hit new peak last year: MAS survey
      501 6  -  By Siow Li Sen lisen@sph.com.sg Singapore ASSETS managed by Singapore fund managers reached a new high last year as money poured into the region following the global financial crisis. Total assets managed by the fund management industry here rose to
      501 words
    • Article, Illustration
      Lock icon HK: new battleground for world’s law firms
      841 7 Wall Street lawyers take Hong Kong bar exam to be able to partake of huge fees in China’s capital markets Bloomberg Hong Kong WILLIAM Barron, who advised Industrial Commercial Bank of China Ltd (ICBC) on the world’s largest privatisation and CNOOC Ltd on
      Bloomberg; AFP  -  841 words
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      153 2 CONTENTS NEWS Top Stories 2-7 Raffles Conversation 8-9 Week in Review 10 Companies 11-14 From The Desk Of 15 Singapore 16-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Design L2-6 Gadgets L7 Dining L8-11 Style L12-13 Travel
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      Lock icon Page 2 Advertisements Column 2
      65 2 pliNGflLOUJ LAND FOR R6BUILD @NnSSIM RORD KHTRN 9456-7348 Newsman Realty Pte Ltd Sole Marketing Agent 1 1 Rectang| 1 Face Gres South/Eai View h/Eaemcing NASSIM PLOT B ***** sq ft i Frontage Flat Elevated Lc 60m Frontage Flat Elevated Land Face Greenery Almost sold NASSIM PLOT C ***** sq ft
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      7 2 ??SID supports nominating committee’s stand, Page 14
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  • Page 3 Advertisements
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      139 3 See the fashion, live the excitement! 0 VSk M 2* A' m For one and a half decades, Singapore Turf Club and Emirates Airline forged a legacy with one of the region's most prestigious races. Now, for the 15 th year running, ''ay the most enduring partnership in Singapo retracing
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  • Page 5 Advertisements
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      82 5 0 OXOKO Non-Chemical Electro fast pain relief pad 100% natural Soft and flexible design Odourless Increase intensity as desire Reusable Painless and will not strip away body hair Ultra slim Using electronic impulse to Battery operated relieve muscle strains A s>. A3, <v o x Available in 2 types TENS
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon The enabler
      1916 8/9  -  Telenor CEO Jon Fredrik Baksaas is a great believer in his industry, its growth and its necessity. By S Jayasankaran By S Jayasankaran btnews@sph.com.sg THE country has just 4.6 million people, yet Norway has nine companies listed among Forbes’ guide to the world’s 2,000 largest firms. These run
      ZULHAZMI ZABRI  -  1,916 words
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      70 8/9 The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. Raffles Hotels Resorts epitomizes enchanting experiences, embodying global sophistication and residential charm. Each is exclusive, intimate with a distinctive sense of place, imbued with heartfelt service that is intuitive and unobtrusive “like a gentle breeze”.
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK | July 5-9, 2010
      • Article
        Lock icon Rents at suburban malls catching up with Orchard Rd
        54 10 GAP is closing as neighbourhood malls draw increasing shopper numbers and more interest from tenants. The difference narrowed to just 9 per cent in Q2 2010 from as much as 24 per cent at the start of 2009 and 21 per
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      • Article
        Lock icon S’pore looking at intensifying land use for O&M industry
        52 10 HAVING already ventured underground, Singapore is looking at how it can further intensify the use of industrial land here. It will take a close look at the growing offshore and marine sector, given the general shortage of sites, especially those with
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      • Article
        Lock icon Glitch grounds DBS consumer banking
        46 10 DBS and POSB’s entire consumer banking system and parts of their corporate banking services ground to a halt on Monday morning. Apart from raising the ire of frustrated customers, the bank now faces possible action from the Monetary Authority of Singapore.
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      • Article
        Lock icon Buyers have landed, they’re mostly local
        53 10 RECENT high-profile purchases of bungalows on Sentosa Cove by Chinese citizens may have given the impression that foreigners (including PRs) have been snapping up more landed homes of late. But not only do Singaporeans remain predominant buyers, there has also been no rising trend
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      • Article
        Lock icon Wilmar bags Aussie sugar giant for A$1.75b
        43 10 PALM oil giant Wilmar has bought Australia’s largest raw sugar producer for A$1.75 billion (S$2.04 billion) in debt and equity part of a plan to build a “significant sugar business” tapping demand from fast-growing developing countries.
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      • Article
        Lock icon Downtime nightmare could cost DBS dearly
        53 10 AS the inquiry into the breakdown of DBS Bank’s network continues, it appears that the bank’s showing fell short of the reliability benchmarks laid out by the Monetary Authority of Singapore. This, in turn, could invoke a regulatory backlash as banks cannot hide behind
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      • Article
        Lock icon Best bet is productivity, not more foreign labour
        54 10 WHEN the property market heated up recently, the government took steps to cool it. But don’t expect the authorities to let in more foreign workers to ease the tight labour market and rising wages symptoms of a recovering economy that are hurting
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      • Article
        Lock icon BP probes mass flight of its S’pore oil traders
        58 10 BP is investigating “issues” surrounding the departure of some 18 traders, believed to be mainly from its Singapore operations or almost its entire fuel oil trading team here. The number involved is more than “the usual attrition rate” of traders “playing
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      • Article, Illustration
        Lock icon WAITING THEIR TURN
        38 10 DBS faces possible action from the Monetary Authority of Singapores after the entire consumer banking system of DBS and POSB and parts of their corporate banking services grounded to a halt on Monday FILE PHOTO
        FILE PHOTO  -  38 words
      • Article
        Lock icon S’pore investors to gain from yuan strength: Credit Suisse
        74 10 SINGAPORE investors will reap benefits from China’s shift to a more flexible exchange rate in the second half of this year, and fears of a double-dip recession should be allayed by solid earnings growth in the region, says Credit Suisse. In
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      • Article
        Lock icon Fortis Temasek’s romance with Asia fattens its wallet
        49 10 TEMASEK Holdings, whose portfolio value climbed to a new high in the latest fiscal year, has found its focus on Asia paying off handsomely in shareholder returns. It now hopes to raise its Asian exposure further over the next 10 years.
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      • Article
        Lock icon Wong Meng Meng to head Law Society from August
        51 10 PROMINENT lawyer Michael Hwang is stepping down as president of the Law Society of Singapore, the representative body for alllawyershere, ina movethat’s expected to take some by surprise because of its timing. The society’s vice-president, Wong Meng Meng, 62, will take
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      • Article
        Lock icon Outsourcing prematurely blamed for DBS outage?
        60 10 While the witch-hunt continues, the practice of outsourcing technology functions appears to take an early rap for DBS Bank’s recent consumer-banking outage. But analysts reckon that the lesson to be learnt has nothing to do with contracting out IT services but whether there are
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    • NEXT WEEK | July 12-16, 2010
      • Article
        Lock icon US DATA
        49 10 July 13 May trade balance July 14 June retail sales June export prices June import prices May business inventories Crude inventories Minutes of FOMC meeting July 15 Initial claims Continuing claims June PPI June core PPI June industrial production June capacity utilization July 16 July Michigan sentiment
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      • Article
        Lock icon SINGAPORE DATA
        20 10 July 14 Q2 advance GDP estimates June merchandise trade July 15 May retail sales and catering trade indices
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      • Article
        Lock icon EVENTS
        17 10 JULY 14 MADRID Spanish PM Jose Luis Rodriguez Zapatero gives his state of the nation address
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  • Page 10 Miscellaneous
    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 1
      306 10 CRYPTIC CROSSWORD Across 1 Black spider which is deadly or worse, initially (5) 4 Goes on to make money (8) 8 Like a shattering snore by a worker? (8) 9 Celebrated form of mahogany (8) 11 Gains knowledge from books in studies at university (5,2) 13 Strangely uncordial feature of
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    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 2
      17 10 SATURDAY with Ludwig ‘Since you’re into speculation, a few football bets would be nice for your porfolio
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  • COMPANIES
    • Article
      Lock icon Sembcorp secures 92.26% stake in Cascal
      537 11  -  Way paved for Singapore group to become a global water player with enhanced capabilities By Felda Chay feldac@sph.com.sg Singapore SEMBCORP Industries has paved the way for it to become a global water player with enhanced capabilities to serve both industrial and municipal customers. Sembcorp
      537 words
    • Article, Illustration
      Lock icon Good response to new condos 368 Thomson, The Terrene
      572 11  -  By Kalpana Rashiwala kalpana@sph.com.sg Singapore CITY Developments Ltd (CDL) and UOL Group seem to have struck a chord with home buyers with their latest condo previews. CDL has sold 96 of the 120 units released in the first phase of its
      572 words
    • Article, Illustration
      Lock icon STI up 20 pts to highest level since early April
      576 12  -  stocks Ven Sreenivasan ven@sph.com.sg Senior correspondent A THIRD consecutive day of gains on Wall Street, thanks to better US unemployment and retail sales numbers, spurred Asian markets to new eight-week highs. The Straits Times Index (STI) gained another 20.02 points
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    • Business briefing
      • Article
        Lock icon Westcomb Capital a Catalist continuing sponsor
        85 12 SINGAPORE Exchange (SGX) said Westcomb Capital has been approved as a continuing sponsor on Catalist, its spon-sor-supervised board for fast-growing companies. The addition of Westcomb Capital increases Catalist's Sponsor pool to nine continuing sponsors and 10 full sponsors. The role of sponsors is to
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      • Article
        Lock icon Partial bid for Parkway: votes at first closing
        118 12 KHAZANAH Nasional had received about 592.57 million votes from shareholders with regard to its $1.18 billion partial offer for Parkway Holdings as at 5.30pm on July 8, the first closing date of the partial offer. Of this, 49.7 per cent of votes
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      • Article
        Lock icon Asia Power to buy stake in China hydropower plants
        130 12 ASIA Power Corp has agreed to buy an effective interest of 80 per cent in three hydropower plants in China for 76.56 million yuan (S$15.73 million). The purchase price is said to represent a premium of 0.53 per cent to the
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      • Article
        Lock icon SingTel raises stake in Bharti Airtel
        43 12 SINGAPORE Telecommunications said subsidiary Viridian Ltd has purchased 1.59 million Bharti Airtel shares in the open market for 422.78 million Indi- an rupees (S$12.45 million), raising SingTel's effective interest in Airtel from 32 to 32.04 per cent.
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      • Article
        Lock icon SIA Engineering CEO gets new service agreement
        105 12 SIA Engineering Company (SIAEC) has given a new service agreement to its president chief executive officer William Tan. The new contract will be for three years, from July 1, 2010, to June 30, 2013, and will supersede Mr Tan's current employment terms. No
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    • Article
      Lock icon TOP 20 ACTIVES
      110 12 VOL CLOSE Thakral 440,701 3.5 0.0 0.0 GentingSP 89,212 118 -1.0 -0.8 GoldenAgri 66,277 53.5 -0.5 -0.9 Yangzijiang 55,244 144 5.0 3.6 JES 42,356 19 1.5 8.6 NobleGrp 33,111 173 3.0 1.8 RafflesEdu 31,081 32 3.5 12.3 UniEnvtech 30,947 38.5 1.0 2.7 ChinaAniH 27,958 31 0.5 1.6
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    • Article
      Lock icon STI STOCKS
      110 12 Stock name Close Change CapMallsAsia 2.100 +0.030 CapitaLand 3.680 +0.050 CapitaMall 1.950 +0.020 CityDev 11.000 ComfortDelGro 1.520 +0.030 DBS Grp 14.240 +0.260 F&N 5.440 +0.090 Genting SP 1.180 -0.010 Golden Agri 0.535 -0.005 HK Land 5.050 +0.080 JMH 39.700 -0.800 JSH 23.240 +0.240 Jardine C&C 32.960 +0.920 Keppel
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    • Article
      Lock icon TOP GAINERS
      58 12 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 186.1 1.2 DBXT STGLDv100 10US$ 2628 124.1 3.5 Jardine C&C 3296 92.0 2.9 Lyxor China H 10US$ 1500 51.0 2.5 DBXT CSI300 10US$ 851 46.9 4.2 SIA.ES.1007 1478 38.0 2.6 JSH 2324 33.1 1.0 SIA 1482 32.0 2.2 Pru 500US$
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    • Article
      Lock icon TOP LOSERS
      59 12 BY CENTS CLOSEDOWN JMH 3970 -110.3 -2.0 GLD 10US$ ***** -97.9 -0.6 DBXT S&P Short 10US$ 5446 -70.3 -0.9 SIA 200 1482 -30.0 -2.0 OCC 3.93% NCPS10 8980 -20.0 -0.2 OmegaNav 280 -20.0 -6.7 Asia Pac Brew 1430 -10.0 -0.7 Lyxor Russia 10US$ 357 -9.7 -1.9 DBXT MSTHAI
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    • Article
      Lock icon Wilmar seeks US$1b loan to buy CSR
      100 12 Reuters Singapore WILMAR International, the world’s largest listed palm oil firm, is seeking to borrow over US$1 billion to help fund its chaseofSydney-basedCSR’ssug-ar business, Basis Point reported on Thursday. The banks that are in discussion with Wilmar include Singapore’s three local banks DBS,
      Reuters  -  100 words
    • Article, Illustration
      Lock icon Delong redeems bonds worth 346m yuan
      404 13  -  Steel coil maker points to better financial showing and improved credit and liquidity environment By Lynette Khoo lynkhoo@sph.com.sg Singapore CITING improving financial performance and a more favourable credit and liquidity environment, Chi-na-based steel coil maker Delong Holdings said yesterday that it has redeemed convertible
      BLOOMBERG FILE PHOTO  -  404 words
    • Article
      Lock icon Gloucester in talks with Noble to buy coal stakes
      317 13 Reuters Sydney AUSTRALIA’S Gloucester Coal may raise equity to buy stakes in local coal mines from its majority shareholder, Singapore’s Noble Group, the latest in a string of deals in the booming coal sector. Gloucester said yesterday it remained in talks
      Reuters  -  317 words
    • Article, Illustration
      Lock icon SID supports nominating committee’s stand
      807 14  -  letters on parkway Giang Sovann Executive director Singapore Institute of Directors I REFER to the report “Parkway deems Seow ‘not independent’” (BT, July 7). The Singapore Institute of Directors (SID) supports the stand taken by the nominating committee (NC) of Parkway Holdings in deeming its
      YEN MENG JIIN  -  807 words
    • Article
      Lock icon Directors must consider perception issues also
      427 14  -  Mak Yuen Teen IREFERtoThe BusinessTimesreport “Fiduciary duty comes first: Parkway directors” (July 6) where the three directors of Parkway reiterated that their agreements with the controlling shareholder, Fortis Healthcare, do not compromise their fiduciary duty to the company. While I had raised questions in
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  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      27 11 GCB Land Mt Echo Park Land Size 16,826 sqft Ideal for rebuild Vacant Possession Quiet ambience North/East facing Appointed Sole Agent Citiprop Pacific KC Ng 9853 1001
      27 words
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  • Page 13 Advertisements
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      727 13 NOTICES BUY IT-SELL IT-FIND IT TRADE MARKS FOR SALE (“as is, where is” basis) TheLiquidat seekingbuy for hesale egistered ademar for hemar “PEPP”on “as wher is”basis IntenationalClas 55 SSttatus Curently alid and subsisting. ene als due om 20 20 Applicab Counies Singapor eopl epub Chin Sout ea,Aus alia NNeeww Zealand,Europea
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Customer service starts from within
      829 15  -  Whatever the product or service, it is the transaction that clinches. Developing a total corporate culture driven to “the transaction” has to be the key to business survival in any industry. from the desk of Ng Yong Hwee CEO President of City Gas CUSTOMER focused
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  • SINGAPORE
    • Article
      Lock icon Counter offers on the rise to retain staff
      254 16 THE latest Hays Quarterly Report said that an increasing number of employers in Singapore are willing to counter offer to retain staff. This is the result of a lack of skilled labour, employers’ awareness of this shortage and rising demand as the
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    • Article
      Lock icon Singapore will lose competitive edge in manufacturing: study
      671 16  -  Access to talented innovative workers seen as the key factor in the future By Anna Teo anna@sph.com.sg HAVING a steady stream of highly skilled workers, scientists, researchers and engineers trumps “low costs” as the top driver of manufacturing competitiveness, according to a
      671 words
    • Article, Illustration
      Lock icon New Swiss-S’pore tax treaty in the works
      438 17  -  It’ll include latest int’l standard on information-sharing By Conrad Tan conradt@sph.com.sg SWITZERLAND and Singa- pore are expected to sign a new tax treaty later this year that will include the latest international standard on information-shar-ing for tax purposes, Swiss President Doris Leuthard said
      REUTERS  -  438 words
    • Article
      Lock icon Lend Lease appoints new CEO for Asia
      159 17 AUSTRALIA’S Lend Lease Corporation said yesterday that it has promoted Ooi Eng-Peng to chief executive officer of its Asia operations. Mr Ooi’s appointment comes after the property group said in three months ago that starting July, it will transform its business structure to
      159 words
    • Article
      Lock icon Freehold Geylang site sold en bloc
      298 17  -  By Emilyn Yap emilyny@sph.com.sg PEOPLE’S Mansion, a freehold residential development at Geylang Lorong 31, has been sold en bloc for $42.68 million. Private firm Tomlinson Investment which also developed theTan Swie Hian Museum nearby won the tender for the 37,497 sq ft plot. The
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    • Article, Illustration
      Lock icon Africa brimming with promise
      676 18  -  Africa-Singapore Business Forum next week will highlight opportunities for companies By Siow Li Sen lisen@sph.com.sg AFRICA is much more than the World Cup. And after the football finishes, bleary-eyed bosses may want to set their sights on the business opportunities there. Asia-Africa trade has been growing
      AFP  -  676 words
    • Article
      Lock icon SPH to host gifts fair end of July
      157 18 SINGAPORE Press Holdings (SPH) will be hostingthisyear’sSingaporeGiftsandPremiums Fair (SGP) through its newly-ac-quired subsidiary Bizlink Exhibition Services. SGP is the signature trade event of the region’s gifts and premiums industry. In its 11th year, it will be held from July 28–30 at Suntec
      157 words
    • Article
      Lock icon Poll: Dads play key roles in children’s health development
      293 18 AS mothers invade the workplace, a study has revealed that Singapore fathers are conquering territories in childcare. The survey, an initiative of Jacob’s Walk of Life, has shown that fathers today play key roles in their child’s health development, from nutritional
      293 words
    • Article
      Lock icon Help-A-Kid Coin Banks for a good cause
      228 18 TO mark its tenth anniversary, the Straits Times School Pocket Money Fund (SPMF) yesterday launched a new initiative encouraging Singaporeans to combine the virtues of thrift and generosity. SPMF hopes to encourage the public to purchase 50,000 Help-A-Kid Coin Banks at $5 each.
      228 words
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  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      445 17 w MATS <0 NOTICES NI N IN THEMATTEROFTHECOMPANIES ACT CAP50 AND THEMATTEROF GREENTOWERPROPERTIESPTE. TD. (INMEMBERS’VOLUNTAR LIQUIDATION) Company Registration No. *****3086M tA t Ata na an Extraordinar General Meeting the abovementioned Company held 141 Cecil Street #03-02, ungAnnAssociationBuilding, Singapore *****1on30thday June 2010 ta t at 10.00a.m.thefollowingspecialresolutions were duly passed: AS SPECIAL
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  • WORLD
    • Article, Illustration
      Lock icon Europe, US resume sharing of financial data
      717 19 Revised agreement to track financial and bank transfers will have additional data privacy safeguards NYT Brussels THE European Parliament on Thursday moved to mend a rift with the United States as it approved restarting a programme to track financial and bank transfers that
      NYT; AP  -  717 words
    • Article, Illustration
      Lock icon Merck to lay off 15% of workers
      454 19 NYT New York THE US$41 billion merger last year of drug giants Merck and Schering-Plough has a human cost for pharmaceutical industry employees. Merck plans to lay off about 15 per cent of its work force about 15,000 people over the next two
      NYT; AP  -  454 words
    • Article, Illustration
      Lock icon US declines to cite China for currency
      678 20 Obama administration does conclude in report to be sent to Congress, however, that yuan is undervalued AP Washington THE Obama administration declined on Thursday to cite China for manipulating its currency to gain unfair trade advantages against the United States. But the administration
      AP; BLOOMBERG  -  678 words
    • Article
      Lock icon Facebook in deal to sell site credits in Asia
      306 20 AP Kuala Lumpur FACEBOOK is partnering with a Malaysian company to sell credits at retail outlets across Asia for the first time, aiming to make it easier for millions of people to purchase virtual goods and play games on the social
      AP  -  306 words
    • Article, Illustration
      Lock icon Apple opening China flagship in Shanghai
      962 21 But it faces uphill task in drawing consumers away from vendors of smuggled goods NYT Shanghai ALTHOUGH Apple is widely admired in China, most fans of its products here have been buying their iPhones, iPods and Mac computers from smugglers who operate through underground
      NYT; AFP  -  962 words
    • Article
      Lock icon China’s business climate index rises
      169 22 Bloomberg Beijing CHINA’Sbusiness climateindexroseinthesecondquarter as the nation sustained its recovery and some companies forecast stronger earnings. The indicator, which shows executives’ assessments of their businesses’ performances, rose to 135.9 from 132.9 in the previous three months, according to a National Bureau of Statistics statement. The
      Bloomberg  -  169 words
    • Article, Illustration
      Lock icon EADS submits bid for tankers
      630 22 Offer for US$35b Air Force contract comes amid tensions over subsidies NYT Washington THE European Aeronautic Defence and Space Co (EADS) submitted an 8,800-page bid on Thursday for a US$35 billion Air Force tanker contract amid tensions over whether European subsidies would give it a
      NYT; BLOOMBERG  -  630 words
    • Article
      Lock icon Bank of Korea raises key interest rate
      234 22 AP Seoul SOUTH Korea’s central bank unexpectedly raised its key interest rate from a record low amid prospects for robust growth as Asia leads the global economic recovery. The Bank of Korea announced yesterday that it lifted the benchmark seven-day repurchase rate to
      AP  -  234 words
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  • SGX
    • Article
      Lock icon Transaction date: Jul 9
      9046 23 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 18 7.5 3148 8Telecom 16.5 +0.5 462 16.5 16 16 16.5 1.7 11 5.3 79 10 5.5 5834 A-Sonic 8 unch
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    • Article
      Lock icon SGX CATALIST
      1687 26 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 5 1181 t AA Grp 5 4.5 5.5 27.8 4.8 22.5 13 8538 t APStrategic 18 -0.5 30 18 17 18 19
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    • Article
      Lock icon STOCK PRICES LEGEND:
      138 26 Straits Times Index Stocks; s Catalist Non-Sponsored; t Catalist; N Net or Tax-exempted dividend; ct Conditional Trdg; xd ex-dividend cd cum dividend; cri cum right issue cbi cum bonus issue; xri ex-right issue; xbi ex-bonus issue xall ex-all; cdxa cum dividend ex-all co cum offer cdca cum
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 5 4 0 0 0 8 5 4 Manufacturing 74 43 74 4 7 9 78 50 83 Commerce 19 13 25 5 4 3 24 17 28 Tpt/Stor/Comms 28 7 7
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      Lock icon BT SHARE INFORMATION SERVICE
      824 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Jul 5 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Asiatravel.Com Hldgs 8-Jul-10 Boh Tuang Poh OE 602 0.28 1218 0.51 1820 0.76 Asiatravel.Com Hldgs 8-Jul-10 Boh
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      Lock icon SECURITIES TRADING TURNOVER
      121 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 26,450 26,450 76,940 76,940 Manufacturing 380,181 28,188 408,369 301,936 6,632 308,568 Commerce 543,934 8,554 552,488 137,058 2,097 139,155 Tpt/Stor/Comms 127,947 429 128,376 241,683 40 241,723 Finance 26,879 20 26,899 258,255 2 258,257 Construction 30,959 23,427
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  • MARKETS
    • Article, Illustration
      Lock icon STOCK MARKETS
      92 27 YTD change: +0.68% 52-week high: 3,037.97 on April 15,2010 52-week low: 2,258.72 on July 13,2009 Source: Bloomberg YTD change: -6.83% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 17,185.90 on July 13,2009 Source: Bloomberg YTD change: -24.60% 52-week high: 3,478.01 on Aug 4,2009 52-week low: 2,319.74 on July
      Source: Bloomberg  -  92 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      374 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 8 Index Change Change Change Change Change Change World Index Preliminary 785.1 0.7 -5.7 0.5 -9.0 0.7 -7.6 ‡EAFE Preliminary 733.4 1.6 -6.5 1.3 -12.1 1.5 -10.8 Europe Preliminary 1058.6 1.2
      374 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 Jul 9 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2060 1.2077 0.8749 0.8754 Canadian dollar 1.3208 1.3225 0.9582 0.9586 Euro 1.7495 1.7514 1.2692 1.2695 NZ dollar 0.9751 0.9765 0.7074 0.7078 Sterling pound 2.0919 2.0941 1.5176 1.5179
      154 words
    • Article
      Lock icon LIFFE
      82 27 Jul 8 COCOA (£/tonne) Close Prev High/Low Jul 10 2601 2618 2637/2589 Sep 10 2380 2403 2416/2370 Dec 10 2199 2206 2214/2190 Mar 11 2173 unch 2182/2169 COFFEE (US$/tonne) Close Pev High/Low Jul 10 1671 1644 1670/1664 Sep 10 1696 1669 1698/1671 Nov 10 1694 1668 1696/1670 Jan 11
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    • Article
      Lock icon CHICAGO BOT
      104 27 Jul 8 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jul 10 1012.50 993.*****3.00 987.75 Aug 10 983.00 967.75 993.00 962.25 Sep 10 957.50 941.00 966.00 938.25 Nov 10 946.00 932.50 956.25 927.50 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Jul 10 36.86 36.81 37.00 36.60
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    • Article
      Lock icon PALM OIL
      66 27 Jul 9 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 10 2425 2430 2440 2425 452 2842 Aug 10 2338 2344 2366 2338 1734 ***** Sep 10 2295 2300 2320 2293 ***** ***** Oct 10 2289 2287
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    • Article
      Lock icon OIL
      75 27 Jul 8 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 74.93 2.03 WTI (Near Mth) 75.67 1.34 Dubai (1-Mth F) 72.69 2.44 Tapis blend 78.35 2.60 Minas 75.15 2.80 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 67.50 2.00 Jet Kerosene 84.35 2.80 US$/barrel Opec Oil Basket Price
      75 words
    • Article
      Lock icon LONDON METALS
      71 27 Jul 8 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1969.00 1963.25 3 months 1989.00 1986.00 Copper, Grade A (US$/tonne) Cash 6592.75 6618.75 3 months 6615.00 6645.00 Lead (US$/tonne) Cash 1807.50 1771.50 3 months 1828.00 1795.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • Article
      Lock icon METALS
      68 27 Jul 9 GOLD (US$/oz) Jul 08 Jul 09 Hong Kong 1204.*****7.80 Jul 07 Jul 08 London 1192.*****1.00 1193.*****1.50 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 24.91 24.69 Source: UOB PLATINUM Lon (US$/oz) Jul 08 Close Previous PM Fix 1528.*****2.00 AM Fix 1526.*****3.00 Source: Thomson Reuters PLATINUM NYMEX
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Differences cloud climate change talks
      1083 28 / 29  -  Two meetings scheduled before the next big UN Framework Convention on Climate Change gathering in Cancun are not expected to produce consensus on contentious issues G Panicker SO,THEREwillbeanoth-er two meetings on climate change before the next big UN workConventiononClimate Change (UNFCCC) gathering in the Mexican
      AFP  -  1,083 words
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      Lock icon A new storyline in the old Middle-East saga
      1185 28 / 29  -  Evolving values of a new empowered Turkish majority are creating the foundations for a more independent foreign policy that is neither ‘pro’ or ‘anti’ American Leon Hadar Washington correspondent SOME American commentators have a new story to tell about the Middle Eastern
      1,185 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Ferreting out the undervalued
        1230 30 / 31  -  Aziz Nahas, chief investment officer at Lombard Odier Investment Managers, shares his investment strategies. By Chew Xiang By Chew Xiang WITH stock markets see-sawing day by day and the macro outlook still extremely cloudy, where’s the smart investor to put his money? Or rather, where not
        REUTERS  -  1,230 words
      • BROKERS’ TAKE
        • Article
          Lock icon Midas Holdings
          262 30 / 31 Buy Kim Eng Research July 9 Close: $0.93 WITH the recent pullback of some proposed Hong Kong dual listings, we believe the market is gingerly waiting for more positive development on Midas’s anticipated dual listing. We note market concerns that it could be cancelled but believe that these
          262 words
        • Article
          Lock icon Sembcorp Industries
          423 30 / 31  -  Buy DMG Partners Securities July 9| Close: $4.24 Compiled by Lynette Khoo INITIAL tender offer successful; maintain BUY: Sembcorp Industries (SCI) has successfully completed the initial tender offer for all of the issued and outstanding common shares of Cascal, a NYSE-listed water company. With the successful tender offer,
          423 words
      • Article
        Lock icon Asia seen driving global growth in future
        306 32  -  Huge forex reserves, healthy govt balance sheets underscore its financial strength. By Chan Yuping By Chan Yuping ypchan@sph.com.sg THAT Asia will continue to drive the global economy’s growth in the coming years was the overriding sentimentduring OCBC’sGlobal Treasury Economic Business Forum held yesterday.
        306 words
      • Article, Illustration
        Lock icon Private equity queen readies for Europe shopping spree
        806 32 Bloomberg Paris DOMINIQUESenequierisdifferent.It’s not because she’s a woman who built one of Europe’slargest private equity firms from France, a country more famous for fashion than for finance. Rather, it’s because she’s convinced that now is the moment to invest in Europe. “Thanks
        Bloomberg; BLOOMBERG  -  806 words
      • Article, Illustration
        Lock icon Comparing valuations among exchanges
        1430 33  -  Relative to growth, Singapore is not cheap, but it scores on stability something that is often under-rated Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charterholder ISPOKE to Magnus Bocker when he first came on board as the chief executive of Singapore Exchange
        1,430 words
    • WEALTH REAL ESTATE
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  • Page 34 Advertisements
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      Lock icon Page 34 Advertisements Column 1
      64 34 Featuring the Quality Homes Collection Five Chancery. Redefining Exclusivity. For enquiries: Lawrence Chia 9617 2884, lchia@savills.com.sg Jeffrey Goh 9387 3372, jtgoh@savills.com.sg To arrange for an appointment to view our sales gallery, please call 6836 or search with us at residential.savills.com.sg savills 5f§ Iff 33: Savills lias more than 200 offices
      64 words
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      26 36 Published and printed by Singapore Press Holdings Limited. Co. Regn. No. *****2868E. A member of Audit Bureau of Circulations Singapore. Customer Service (Circulation): 6388-3838, circs@sph.com.sg, Fax
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  • Page 1 Advertisements
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      63 1 UP THE GARDEN PATH Three landscape designers here for the Singapore Garden Festival challenge the idea of a garden DESIGN Timeless beauty L4-6 LivingTHEBUSINESSTIMESWEEKEND|JULY10-*****0BTTHE BUSINESS TIMES WEEKEND JULY 10 11 2010 PHOTO: BSQ. LANDSCAPE DESIGN STUDIO DINING World Cup take-out L10-11 STYLE Hard times at couture L12-13 TRAVEL Fields of
      63 words
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  • BT Living
    • DESIGN
      • Article, Illustration
        Lock icon Up the garden path
        1280 2/3  -  Three landscape designers participating in next week's Singapore Garden Festival want to change the way you look at plants in the future. By Lim Sio Hui future. By Lim Sio Hui btnews@sph.com.sg HAVING built great global acclaim in just two installations, the young but highly successful
        1,280 words
      • Article, Illustration
        Lock icon Timeless beauty
        1011 4  -  beauty Standing out as the only hotel in town that sits on concrete stilts, directly over the water, the modern Fullerton Bay Hotel is the final piece of a waterfront development known as The Fullerton Heritage.By Geoffrey Eu Heritage.By Geoffrey Eu btnews@sph.com.sg FOR proof that size doesn’t necessarily
        PHOTOS: MICHAEL WEBER, FULLERTON BAY HOTEL  -  1,011 words
    • GADGETS
      • Article, Illustration
        Lock icon SPLIT PERSONALITY
        1014 7  -  Identity crises aren’t necessarily bad if one of these gadgets fulfils your unique needs. By Christopher Lim By Christopher Lim limchris@sph.com.sg SOME gadgets are obviously cool and desirable, but aren’t clear about what they do. If you look hard enough, however, you might just discover a perfect fit
        1,014 words
    • KL HAWKER GUIDE
      • Article, Illustration
        Lock icon Curry favour
        1751 8 / 9  -  A feast of rich curries, succulent deep fried meats and fish, and sassy sauces await at banana leaf eateries in KL and PJ. By Joyceline Tully btnews@sph.com.sg A glistening array of dishes lay before us. Richly scented curries radiant in red, orange, yellow and deep brown; chunks of
        PHOTOS BY JOYCELINE TULLY  -  1,751 words
    • DINING
      • Article, Illustration
        Lock icon Gourmet airline food at home
        692 10 / 11  -  By Natalie Koh natksl@sph.com.sg EVERYONE, whether or not they are Singapore Airline customers, can now have a taste of the high-flying dishes that have broken previous airline food stereotypes. Award-winning SIA is famous for top-notch service and arguably, its food. And now you can whip
        692 words
      • Article, Illustration
        Lock icon Perfect match
        1167 10 / 11  -  What beats watching the World Cup finals? Enjoying the game while tucking into a takeaway gourmet meal. By Melissa Lwee meal.By Melissa Lwee FANCY enjoying the World Cup Final with friends but without having to share cheering space with strangers in a public place? While the drawback to
        PHOTOS OF JONES THE GROCER, GALBIATI BY JOHN HENG  -  1,167 words
      • Article
        Lock icon wine & dine with BTWeekend
        880 10 / 11 wine dine with BTWeekend Chatterbox Level 5 Mandarin Orchard Singapore 333 Orchard Road ?6831-6288 Home to the signature Mandarin Chicken Rice, Chatterbox is an iconic coffee house renowned for its Asian local delights and Western favourites. Most recently, Chatterbox opened its new premises on Level 5 of the hotel with
        880 words
    • STYLE
      • Article, Illustration
        Lock icon HARD TIMES
        1450 12 / 13  -  Haute couture falls from grace, with looks that ranged from aggressive to insipid at the recent Paris shows, save for Gaultier and Dior. By Daniel Goh By Daniel Goh AT the recent menswear collections, Parisian designers unveiled a vision of anaemic, effete men wearing what amounted to women’s
        PHOTOS: AFP, AP, REUTERS, XINHUA  -  1,450 words
    • TRAVEL
      • Article, Illustration
        Lock icon Fields of stories
        1467 14 / 15  -  Designer Marianna Kennedy gives us a tour of her beloved Spitalfields the historic part of London that’s touched everyone from Huguenots to Bengalis to Tash Aw. By Clarissa Tan By Clarissa Tan btnews@sph.com.sg AT 3 Fournier Street, the doorbell is like an iron poker that’s been speared
        ALL OTHER PHOTOS BY CLARISSA TAN; CLARE SHILLAND; ANNIE SCHLECHTER  -  1,467 words
    • SPORT
      • Article, Illustration
        Lock icon A little bird told me...
        634 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Acting Deputy Foreign Editor MIDWAY through penning this column yesterday, I struggled for a good hour as I couldn’t quite figure out whether Spain or the Netherlands would win the World Cup on Sunday night. Both countries are on
        LEE U-WEN  -  634 words
      • Article
        Lock icon Foul play in South Africa?
        788 16  -  kick off with christy simson christy simson I HAVE been in South Africa for 30 days now and the overall experience has been nothing short of incredible. Kind people, great food, beautiful country... oh, the football’s pretty good too. But there’s one thing that really
        788 words
    • GOLF
      • Article, Illustration
        Lock icon Third time lucky?
        1179 17  -  The Open Championship at St Andrews will be a test of whether Danny Chia makes the cut in the world’s oldest golf major.By Justine Moss british open major.By Justine Moss btnews@sph.com.sg WHEN Malaysian professional Danny Chia tees it up at next week’s Open Championship at StAndrews, he’ll
        PHOTOS: ASIAN TOUR, AP  -  1,179 words
    • MOTORING
      • Article, Illustration
        Lock icon CROSSING OVER
        433 18  -  A slew of new sport-utility vehicles in all shapes and sizes have come to town. Samuel Ee looks at the small, the compact, and the big daddy of SUVs Samuel Ee THE majority of SUVs are not designed to venture offroad, so they are labelled softroaders. Some of
        433 words
      • Article, Illustration
        Lock icon PLUS-SIZED
        425 18 The Nissan Qashqai+2 has a most European ride quality, with good comfort and even better handling THE Nissan Qashqai may be Japanese but it has the enviable reputation of being known for its most un-Japanese ride. Developed in the UK and built in Sunderland, it has a most European
        425 words
      • Article, Illustration
        Lock icon TOP OF THE RANGE
        645 19 The directness of the onroad experience, as well as the spacious cabin and ride comfort, makes this Range Rover so appealing THE horizon is limitless. Or at least that is what the image on the Range Rover Vogue’s virtual instrument display seems to imply when the
        645 words
      • Article, Illustration
        Lock icon A DIFFERENT BEAST
        212 19 The front-wheel-drive, high-riding Škoda Yeti manages to produce car-like handling ONE of the dinkiest SUVs to be introduced here is theŠkoda Yeti.This quirkilystyled modelis powered by the Volkswagen Group’s latest gem of an engine the 1.2-litre turbocharged direct injection unit mated to an equally brilliant seven-speed dual-clutch
        212 words
      • Article, Illustration
        Lock icon The show goes on
        530 20  -  The occasion was the Porsche World Roadshow 2010 and participants were allowed to experience the handling abilities of the marque. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE Changi Exhibition Centre turned into a Porsche playground last week when more than a dozen models from the
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      Lock icon Page 5 Advertisements Column 1
      381 5 StarHub* REWARDS K v'J ls& «K (Ch 433) Luke Nguyen's Vietnam jJ Premieres July 5, Mondays, 9pm Aft Venue: AFC Studio Date: 5 Aug, Thurs 12.30pir Price: $79 (inci. GST) B H E (Ch 427] World Cafe: Asia Season 1 Premieres 26 July, Mondays, 8pm 7" > J. Cost: $79
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